Corporate simplification training

If you are thinking of removing dormant subsidiaries or otherwise reducing the number of legal entities in your group, we can help you get your project off to a good start, and avoid the pitfalls.

Through our briefing session, we will equip you with knowledge and tools developed from working with a range of other groups, from large multinationals to SMEs and family-owned businesses.

In order to make the training as valuable as possible, we will also use the session to discuss up to 5 specific companies in your group which you are considering removing. In order to do that, we will usually need to have details of those companies (i.e. latest accounts and a high level description of any known issues affecting them) at least 1 week before the session.

Get in touch

If you would like legal help with your project, please call us on +44 (0) 20 3286 8868 or email us at info@lcnlegal.com.

FAQs

Q: Who the training is for?A: The training is for CFOs, FDs, company secretaries and in-house tax and legal professionals.

Q: How will it take?A: We understand that it can be difficult to set aside time, so we usually aim to complete our session in 90 minutes.

Q: Where will the training take place?A: We are happy to deliver the training at your offices or wherever is convenient for you.

Q: How many people can attend the training session?A: That’s completely up to you. Usually we would suggest having not more than 10 attendees, because then it is more difficult to ensure that everyone can actively participate.

Q: What specific subjects will the training cover?A: We will tailor it to your specific needs, but generally it would cover the following areas:

Typical drivers and triggers of corporate simplification projects

The ‘corporate memory’ issue – and how to address it

Hidden assets and hidden liabilities

Due diligence checklists and sources of DD information

Typical legal actions

Liquidation vs strike off

To “recycle” companies or not

Market Value vs Book Value

Reduction of Capital – the solvency statement procedure

The MVL Process

Key project documents

Key lessons learned from other corporate simplification projects

In addition, if you are able to provide the latest accounts of up to 5 companies which you’re actually thinking of removing, we can talk them through with you and give you an indication as to what the best legal approach might be.

Q: Do you cover tax issues?A: No, as a law firm we focus on the legal and practical issues. But we are more than happy to recommend tax advisers or other professionals who will be able to help with your project.

Q: What specific materials will you provide?A: This depends on your particular needs, but generally we would provide:
• A set of powerpoint slides
• A template due diligence questionnaire
• An action list relating to the specific companies in your group which we have discussed during the session (we will provide this within 5 business days after the session).
We also provide a wealth of information and materials on our website.

Q: How much will the training cost?A: We will provide you with a fixed fee. The exact amount will depend on your specific requirements and any travelling time required.